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American Finasco Review

Wednesday, May 18th

2022 Business Debt Management Company Reviews

American Finasco Review 3.5 Star Rating

American Finasco

3.5 Star Rating
  • Cost: FREE consultation
  • Fees depend on services provided

In business for over 30 years, American Finasco has a long track record of successfully helping more than 10,000 businesses with commercial debt management needs. With offices in Cleveland, Nashville, Dallas, Houston, Philadelphia and Raleigh, you may even be able to work with their specialists face-to-face, although the company easily provides services no matter where your business is located.

Eligibility requirements

However, because they have very specific criteria to determine the companies they work with, you should determine if you're eligible to be a client before you dig further into their services. Do you meet American Finasco's client profile? Only if you're a "closely-held, under-capitalized corporation, with gross revenues between $500,000 and $100,000,000". In other words, for many smaller businesses, this isn't going to be a possibility for business debt management.

Stellar reputation

However, if your revenues do fall within that range, this is an excellent service for you to consider. American Finasco enjoys a stellar reputation, as demonstrated by an "A+" rating and accreditation from the Better Business Bureau. It's rare to find a company that has zero complaints filed at the BBB, but this business debt management service has that distinction.

Best Business Debt Management Companies

Long list of services

American Finasco offers a long list of services that might be useful for your business. These include the following:

  • Commercial Debt Reduction
  • Alternative to Bankruptcy
  • Commercial Debt Management
  • Business Debt Relief
  • Business Debt Settlement
  • Merchant Cash Advance
  • Third-Party Intervention

We encourage you to click on the "Our Services" link for more detailed information about each of those services, to see which one(s) might be useful in your company's situation.

Case solutions

We also recommend that you look at the Case Solutions page on the American Finasco site. From a charter school in Arizona to an aluminum extrusion company in Texas and more, this company has proven results. Just browsing through a few of the case studies, you'll see savings over $100,000 almost every time, usually representing a reduction of debt in the range of 50-60%.

National attorney network

One big plus when working with this service is their National Attorney Network. Business debt management often has a legal component, so having connections with attorneys who can assist with any court filings, lawsuits, and other legal matters can be a lifesaver - especially since you won't have to pay a large retainer to get them to take your case.

Getting started

Getting started is as easy as filling out their online contact form or calling American Finasco's toll-free number. If you'd like the representative to have some information prior to discussing your situation, the online form is your best option: you can enter how much unsecured debt you have, whether or not there are any lawsuits against you, how many months past due your debt is, and so on.

Dedicated account executive

Let's say you've decided this is the right service for you. How does the process work? Once you've decided to use American Finasco for your business debt management, you'll be assigned an account executive who will be your guide through the whole process. This representative will review the steps that will be taken, gather any necessary information, and provide answers to any questions you may have.

Extremely effective

American Finasco is reliable and extremely effective at providing business debt management. The only drawback is that they only serve larger businesses, which excludes a significant number of potential clients. But, if you own one of those higher-revenue companies and need help getting your debt under control, this provider is an excellent choice.

Which Company Offers the Best Business Debt Management Services?

If your company is struggling to manage finances, you might be wondering if there's any way to get out from the weight of debts that threaten to crush your business.

Even when the economy is flourishing, it doesn't always translate into more sales of your product or service, making it even more challenging to manage the day-to-day operational costs and long-term expenses associated with running a business. There are many factors that impact business debt. Do you have a sufficient credit line to stay in business? How well are you managing receivables due in 30 to 60 days? You may be struggling just to get by and keep the lights on while still trying to grow your business.

The Best Business Debt Management Companies Compare Business Debt Management Companies Compare Business Debt Management Company Reviews What are the best Business Debt Management Companies Best Business Debt Management Company Reviews

Business Debt Management Company FAQ

It's not easy to run a business. You probably have various creditors, from office supply companies to third-party vendors of services you need to stay operational. Business debt consists of every financial obligation you have.
Your debt becomes an issue when you don't have the income to make payments to creditors. Your debt may have started out small and grown to unmanageable proportions with a downturn in the economy, or you might have taken out a significant amount of credit to start your business but never had the income to get on top of what you owe.
These services work as an advocate, negotiating with creditors to reduce your debts, establish payment plans, and keep your business open. Most of these services also help you develop a budget to manage your finances going forward.
Results vary, but some businesses see a reduction of as much as 80%! The best debt management services will give you clear expectations: what steps you'll take, what results you can anticipate and according to what timeframe.
No. You should be able to get a free initial consultation to determine if a debt management plan is right for your business. From there, it depends on which partner you select: some charge flat fees for their services, while others go by a percentage of what you save in debt repayments.
Absolutely. There are debt management service providers that have been in business for decades, successfully helping companies of all sizes to get back in the black with respect to their finances. However, it's always a good idea to check out the reputation of any business debt management company you're considering: a strong rating from the BBB and ample positive client reviews are both good indicators that your business will be in good hands.
If you're struggling to keep your business afloat and debt payments are a big part of the reason why, you'll likely qualify for business debt management services. Your initial consultation will connect you with an analyst who will ask questions to get a better picture of your situation and recommend the best approach for managing your debt.
Not necessarily. Fortunately, most business debt management plans are "as-you-go" , so you're not locked into a long-term commitment. But, you'll save yourself time and hassle by choosing a reputable provider from the start, eliminating any fears that you might not get the results you need to reduce your business debt.
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Continued from above...

If any of this sounds familiar, finding a reputable business debt management service could be the light at the end of the tunnel. These services can help you avoid bankruptcy - so that you don't have your business assets liquidated and/or burned bridges with creditors whose good faith you may need in the future!

How does business debt management work? Providers work with your suppliers, lenders, creditors and other businesses to restructure what you owe - all while making sure to preserve your reputation with those third-party entities as much as possible, ensuring smooth relationships in the future. Some businesses see a debt reduction of as much as 80% when using the most effective providers!

When choosing a partner to help you manage your delinquent business debt, you want to make sure that you'll actually be better off after using the service. Your provider should be able to help you improve your bottom line, avoid bankruptcy, and keep your company intact. So, how can you tell which business debt management service is right for you? Here are several criteria to keep in mind as you look through your options:

  • Fees. Most services require you to have a consultation, usually at no cost, before providing details on what they can provide. Be sure to read the fine print and make sure you understand exactly what you're getting before you commit. Will you pay a fixed fee, or is it based on how much they save in restructuring your debt?
  • Reputation. What do other business owners say about their experience when using the service? Has the provider been evaluated by the Better Business Bureau?
  • Requirements. Some business debt management services only work with certain amounts of debt or companies of a particular size. Will your debt qualify for restructuring using the service you're considering?

TopConsumerReviews.com has reviewed and ranked the best business debt management services available today. We hope this information helps you get the resources you need to get your business back in the black and to give you peace of mind!

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